Funding approved for downtown LA streetcar project

Funding has been approved by the Los Angeles City Council for a street car project that would serve areas in downtown L.A.

April 16, 2011 12:00:00 AM PDT

DOWNTOWN LOS ANGELES --

Funding has been approved by the L.A. City Council for a street car project in downtown Los Angeles.

Advocates of the project say the streetcars would add 9,300 jobs, $125 million in public-private investment and $24 million in annual tourism and consumer spending.

The urban street car system would serve a four-mile area including Bunker Hill, the Music Center, historic Broadway, L.A. Live and the L.A. Convention Center.

The project is backed by AEG, a leading sports and entertainment company that has a huge stake in Los Angeles. AEG is responsible for L.A. Live, Staples Center and is also behind the proposed NFL stadium in downtown.